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Justice Institute of British Columbia (JIBC) is Canada’s leading public safety educator with a mission to develop dynamic justice and public safety professionals through its exceptional applied education, training and research…

Surviving in a hyper-competitive market involves much more than just playing catch-up

March 12, 2018

Through JIBC’s intelligence analysis program, Casey Solis has gained the skills she needs to help companies foresee new threats and business opportunities

When it comes to intelligence work, it’s easy to conjure up James Bond-esque escapades and high-tech gadgets.

In reality, intelligence analysis and the ability to glean clues from big data sets is just as vital to businesses as it is to national security agencies.

The expertise of analysts to foresee upcoming threats and grasp new opportunities is key to the survival of any business in today's hyper competitive environment, explained intelligence and security issues specialist Alexandra Luce.

“The more competitive the industry, the more important business intelligence is going to be,” says Luce.

“The core principles associated with the intelligence analysis program are about gathering information and using that information to your advantage,” says Luce. “It’s really about making better decisions.”

Beyond catch-up

The program was at the forefront of a new, upcoming field when it was launched in 2011 and the first of its kind in Canada. Now, it’s practically a requirement for businesses to survive in an ever increasingly competitive market.

Business intelligence is far more than just keeping an eye on competitors, Luce emphasized.

“If you are only being reactive to what your competitors are doing, you are always playing a catch up game.”

Instead, intelligence analysis should focus on the business landscape as a whole in order to gain a competitive edge.

“While you do want to be doing an analysis on your competitors, it is also extremely important to be looking more broadly at the industry and at the long term.”

Anything from changes in technology or government regulations can impact an industry. In a hyper-competitive market, being caught off guard can be a fatal blow.

“Analysts will help you explore trends and what it means for your business,” says Luce. “And then you are better able to prepare and take action on it before it becomes an emergency.”

From law enforcement to entrepreneurs

The intelligence analysis program at the JIBC takes about 18 months for students to complete and teaches a range of skills from where to look for information to how to write about data findings.

“It’s about thinking very critically and then being able to express your findings clearly and concisely,” Luce explains.